Instagram’s streaming video effort is adding two new monetization options for creators to take advantage of in the near future.
One of them introduces an ad-revenue program while the other takes a page from Twitch and other live streaming companies with “badges,” a kind of IGTV version of the Amazon live streaming giant’s “Cheer” emojis.
As for the revenue model, Variety reports that IGTV will share 55% of revenue with creators. That’s nothing to sneeze at and could entice some big names to start giving the platform a shot.
And it couldn’t come at a better time, either. Instagram reports that the novel coronavirus pandemic and the subsequent lockdown has contributed to no less than a 70% jump in the number of people who view live streams on the app.
Instagram COO Justin Osofsky said of the IGTV ad plan, “Providing a variety of monetization tools is crucial in order to support all creators on Instagram, from emerging digital stars to established entertainers and everything in between…We’re excited to add these two new revenue streams to the mix of tools for creators to help them generate additional income to fuel their work.”
IGTV will start rolling all of this out beginning this month with the badges initially starting with only a few creators before expanding to others.
Variety reports that Instagram’s VP of business Jim Squires said of the new monetization options, “We’ve seen interest [among Instagram users] in support for online creators. It resonates quite well with fans, who are engaged in and invested in creators.”
Instagram is on a tear lately with the updates. Here is a previous report about some of the more efficient audience management options the platform introduced not too long ago.
What do you think of Instagram’s plan to place ads within IGTV to help creators monetize their content? Let us know your thoughts in the comments section below if you like.
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